Every business is ultimately judged on their ability to sell their product or services successfully.
However for many, this is a lagging indicator. In other words, consumers have already made up their minds about which brand they’re going to buy before they make the purchase. A sale is the final output of a long, complex process of brand building.
Therefore brand strength is a leading indicator of how likely you are to grow revenue. As you win mindshare, you win market share.
We determine brand strength based on unprompted brand recall, purchase intent and net promoter score. We believe this provides the best way for quantifying a brand’s true strength in their particular market or category.
It provides an unbiased way to determine how well known your brand is in a specific category, how likely it is to purchased, and how well liked it is - all Vis-à-vis your competitors.
We’ve done into this much more substantially in our report on ‘Brand Intelligence in the Age of Dark Social and Bad Data. In short, you can’t rely on social media mentions, brand search terms or direct traffic as a true measure of your brand’s strength.From biased samples on social media to data generated by bots when looking at digital analytics, there is no substitute for direct to consumer feedback.
To determine a brand index we look at three things.
Our data is gathered every quarter from an online survey sent to a panel of 1,000 UK consumers. In each category Brand Index, we show the data as an overall index, and as a matrix, plotting brands across ‘awareness’ and ‘brand strength.’
Each Brand Index is updated quarterly, so we can plot brands that are gaining and losing momentum in their respective categories.
If you’d like a bespoke or international report, you can fill out our ‘Brand Intelligence Request’ form and we’ll be in touch to discuss your requirements within one working day.